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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported)
November 9, 2026
Booking Holdings Inc.
(Exact name of registrant as specified in its charter)
| Delaware |
|
1-36691 |
|
06-1528493 |
(State or other Jurisdiction of
Incorporation) |
|
(Commission File Number) |
|
(IRS Employer Identification No.) |
| 800 Connecticut Avenue |
Norwalk |
Connecticut |
|
06854 |
| (Address of principal executive offices) |
|
(zip code) |
Registrant's telephone number, including area code:
(203) 299-8000
N/A
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨ Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities Registered Pursuant to Section 12(b)
of the Act:
| Title of Each Class: |
|
Trading Symbol |
|
Name of Each Exchange on which
Registered: |
| Common Stock par value $0.008 per share |
|
BKNG |
|
The NASDAQ Global Select Market |
| 4.000% Senior Notes Due 2026 |
|
BKNG 26 |
|
The NASDAQ Stock Market LLC |
| 1.800% Senior Notes Due 2027 |
|
BKNG 27 |
|
The NASDAQ Stock Market LLC |
| 0.500% Senior Notes Due 2028 |
|
BKNG 28 |
|
The NASDAQ Stock Market LLC |
| 3.625% Senior Notes Due 2028 |
|
BKNG 28A |
|
The NASDAQ Stock Market LLC |
| 4.250% Senior Notes Due 2029 |
|
BKNG 29 |
|
The NASDAQ Stock Market LLC |
| 3.500% Senior Notes Due 2029 |
|
BKNG 29A |
|
The NASDAQ Stock Market LLC |
| 3.000% Senior Notes Due 2030 |
|
BKNG 30 |
|
The NASDAQ Stock Market LLC |
| 3.500% Senior Notes Due 2030 |
|
BKNG 30A |
|
The NASDAQ Stock Market LLC |
| 4.500% Senior Notes Due 2031 |
|
BKNG 31 |
|
The NASDAQ Stock Market LLC |
| 3.125% Senior Notes Due 2031 |
|
BKNG 31A |
|
The NASDAQ Stock Market LLC |
| 3.625% Senior Notes Due 2032 |
|
BKNG 32 |
|
The NASDAQ Stock Market LLC |
| 3.250% Senior Notes Due 2032 |
|
BKNG 32A |
|
The NASDAQ Stock Market LLC |
| 4.125% Senior Notes Due 2033 |
|
BKNG 33 |
|
The NASDAQ Stock Market LLC |
| 4.750% Senior Notes Due 2034 |
|
BKNG 34 |
|
The NASDAQ Stock Market LLC |
| 4.000% Senior Notes Due 2034 |
|
BKNG 34A |
|
The NASDAQ Stock Market LLC |
| 3.625% Senior Notes Due 2035 |
|
BKNG 35 |
|
The NASDAQ Stock Market LLC |
| 3.750% Senior Notes Due 2036 |
|
BKNG 36 |
|
The NASDAQ Stock Market LLC |
| 3.750% Senior Notes Due 2037 |
|
BKNG 37 |
|
The NASDAQ Stock Market LLC |
| 4.125% Senior Notes Due 2038 |
|
BKNG 38 |
|
The NASDAQ Stock Market LLC |
| 4.500% Senior Notes Due 2039 |
|
BKNG 39 |
|
The NASDAQ Stock Market LLC |
| 4.000% Senior Notes Due 2044 |
|
BKNG 44 |
|
The NASDAQ Stock Market LLC |
| 3.875% Senior Notes Due 2045 |
|
BKNG 45 |
|
The NASDAQ Stock Market LLC |
| 4.500% Senior Notes Due 2046 |
|
BKNG 46 |
|
The NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant
to Section 13(a) of the Exchange Act. ¨
Item 1.01 Entry into a Material Definitive Agreement.
Senior Notes
On November 13, 2026, Booking Holdings Inc. (the
“Company”) executed four Officers’ Certificates (the “Officers’ Certificates”), in accordance
with Sections 2.02 and 10.04 of the Indenture dated August 8, 2017 (the “Base Indenture” and, together with the Officers’
Certificates, the “Indenture”) between the Company and U.S. Bank Trust Company, National Association (as successor
in interest to U.S. Bank National Association), as trustee (the “Trustee”) and registrar, in connection with the sale
of €1,250,000,000 aggregate principal amount of the Company’s 3.950% Senior Notes due 2029 (the “2029 Notes”),
€800,000,000 aggregate principal amount of the Company’s 4.375% Senior Notes due 2032 (the “2032 Notes”),
€750,000,000 aggregate principal amount of the Company’s 4.750% Senior Notes due 2035 (the “2035 Notes”),
and €750,000,000 aggregate principal amount of the Company’s 5.000% Senior Notes due 2038 (the “2038 Notes”
and, together with the 2029 Notes, the 2032 Notes, and the 2035 Notes, the “Senior Notes”). The 2029 Notes will mature
on November 13, 2029, the 2032 Notes will mature on November 13, 2032, the 2035 Notes will mature on November 13, 2035, and the 2038 Notes
will mature on November 13, 2038, in each case unless earlier redeemed or repurchased. The Senior Notes are the Company’s general
senior unsecured obligations and rank equally with the Company’s other senior unsecured obligations. Pursuant to an Agency Agreement
dated as of November 13, 2026 (the “Agency Agreement”) relating to the Senior Notes, the Company has appointed U.S.
Bank Europe DAC, UK Branch, to act as paying agent for the Senior Notes and U.S. Bank Trust Company, National Association to act as transfer
agent for the Senior Notes.
The Company will pay interest on the 2029 Notes
at an annual rate of 3.950% payable on November 13 of each year, beginning on November 13, 2027. The Company will pay interest on the
2032 Notes at an annual rate of 4.375% payable on November 13 of each year, beginning on November 13, 2027. The Company will pay interest
on the 2035 Notes at an annual rate of 4.750% payable on November 13 of each year, beginning on November 13, 2027. The Company will pay
interest on the 2038 Notes at an annual rate of 5.000% payable on November 13 of each year, beginning on November 13, 2027.
Prior to October 13, 2029, the date that is one
month prior to the maturity date of the 2029 Notes (the “2029 Notes Par Call Date”), the Company may redeem some or
all of the 2029 Notes at a redemption price equal to the greater of the following amounts plus, in each case, accrued and unpaid interest
thereon, if any, to, but excluding, the redemption date: (1) 100% of the aggregate principal amount of the 2029 Notes to be redeemed and
(2) the sum of the present values of the remaining scheduled payments of principal and interest on the 2029 Notes to be redeemed that
would be due if such 2029 Notes matured on the 2029 Notes Par Call Date, not including any portion of the payments of interest accrued
to the date of redemption, discounted to such redemption date on an annual basis at the Comparable Government Bond Rate (as defined in
the Officers’ Certificate relating to the 2029 Notes), plus 15 basis points. The Company may also redeem some or all of the 2029
Notes on or after the 2029 Notes Par Call Date at 100% of the principal amount of the 2029 Notes, plus accrued and unpaid interest, if
any, to, but excluding, the redemption date. In addition, the Company may redeem the 2029 Notes in whole but not in part, at any time
at the Company’s option, in the event of certain developments affecting U.S. taxation.
Prior to September 13, 2032, the date that is two
months prior to the maturity date of the 2032 Notes (the “2032 Notes Par Call Date”), the Company may redeem some or
all of the 2032 Notes at a redemption price equal to the greater of the following amounts plus, in each case, accrued and unpaid interest
thereon, if any, to, but excluding, the redemption date: (1) 100% of the aggregate principal amount of the 2032 Notes to be redeemed and
(2) the sum of the present values of the remaining scheduled payments of principal and interest on the 2032 Notes to be redeemed that
would be due if such 2032 Notes matured on the 2032 Notes Par Call Date, not including any portion of the payments of interest accrued
to the date of redemption, discounted to such redemption date on an annual basis at the Comparable Government Bond Rate (as defined in
the Officers’ Certificate relating to the 2032 Notes), plus 20 basis points. The Company may also redeem some or all of the 2032
Notes on or after the 2032 Notes Par Call Date at 100% of the principal amount of the 2032 Notes, plus accrued and unpaid interest, if
any, to, but excluding, the redemption date. In addition, the Company may redeem the 2032 Notes in whole but not in part, at any time
at the Company’s option, in the event of certain developments affecting U.S. taxation.
Prior to August 13, 2035, the date that is three
months prior to the maturity date of the 2035 Notes (the “2035 Notes Par Call Date”), the Company may redeem some or
all of the 2035 Notes at a redemption price equal to the greater of the following amounts plus, in each case, accrued and unpaid interest
thereon, if any, to, but excluding, the redemption date: (1) 100% of the aggregate principal amount of the 2035 Notes to be redeemed and
(2) the sum of the present values of the remaining scheduled payments of principal and interest on the 2035 Notes to be redeemed that
would be due if such 2035 Notes matured on the 2035 Notes Par Call Date, not including any portion of the payments of interest accrued
to the date of redemption, discounted to such redemption date on an annual basis at the Comparable Government Bond Rate (as defined in
the Officers’ Certificate relating to the 2035 Notes), plus 25 basis points. The Company may also redeem some or all of the 2035
Notes on or after the 2035 Notes Par Call Date at 100% of the principal amount of the 2035 Notes, plus accrued and unpaid interest, if
any, to, but excluding, the redemption date. In addition, the Company may redeem the 2035 Notes in whole but not in part, at any time
at the Company’s option, in the event of certain developments affecting U.S. taxation.
Prior to August 13, 2038, the date that is three
months prior to the maturity date of the 2038 Notes (the “2038 Notes Par Call Date”), the Company may redeem some or
all of the 2038 Notes at a redemption price equal to the greater of the following amounts plus, in each case, accrued and unpaid interest
thereon, if any, to, but excluding, the redemption date: (1) 100% of the aggregate principal amount of the 2038 Notes to be redeemed and
(2) the sum of the present values of the remaining scheduled payments of principal and interest on the 2038 Notes to be redeemed that
would be due if such 2038 Notes matured on the 2038 Notes Par Call Date, not including any portion of the payments of interest accrued
to the date of redemption, discounted to such redemption date on an annual basis at the Comparable Government Bond Rate (as defined in
the Officers’ Certificate relating to the 2038 Notes), plus 25 basis points. The Company may also redeem some or all of the 2038
Notes on or after the 2038 Notes Par Call Date at 100% of the principal amount of the 2038 Notes, plus accrued and unpaid interest, if
any, to, but excluding, the redemption date. In addition, the Company may redeem the 2038 Notes in whole but not in part, at any time
at the Company’s option, in the event of certain developments affecting U.S. taxation.
The Indenture contains customary events of default
with respect to the Senior Notes, including failure to make required payments, failure to comply with certain agreements or covenants,
acceleration of certain other indebtedness, and certain events of bankruptcy and insolvency. Events of default under the Indenture arising
from certain events of bankruptcy or insolvency will automatically cause the acceleration of the amounts due under the Senior Notes. If
any other event of default under the Indenture occurs and is continuing with respect to a series of Senior Notes, the Trustee or the holders
of at least 25% in aggregate principal amount of the then outstanding Senior Notes of such series may declare the acceleration of the
amounts due under the Senior Notes of such series.
The foregoing description of the Senior Notes is
qualified in its entirety by reference to the full text of the Base Indenture, which was previously filed as Exhibit 4.6 to the Company’s
shelf registration statement on Form S-3 (Registration File No. 333-297975) (the “Registration Statement”), the Form
of 2029 Note, which is filed as Exhibit 4.1, the Form of 2032 Note, which is filed as Exhibit 4.2, the Form of 2035 Note, which is filed
as Exhibit 4.3, the Form of 2038 Note, which is filed as Exhibit 4.4, the Officers’ Certificate relating to the 2029 Notes, which
is filed as Exhibit 4.5, the Officers’ Certificate relating to the 2032 Notes, which is filed as Exhibit 4.6, the Officers’
Certificate relating to the 2035 Notes, which is filed as Exhibit 4.7, the Officers’ Certificate relating to the 2038 Notes, which
is filed as Exhibit 4.8, and the Agency Agreement, which is filed as Exhibit 4.9, each of which is incorporated by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation
Under an Off-Balance Sheet Arrangement of the Registrant.
The information set forth under Item 1.01 of this
Current Report on Form 8-K is incorporated by reference.
Item 8.01 Other Events.
Senior Notes Offering
On November 9, 2026, the Company entered into an
underwriting agreement (the “Underwriting Agreement”) with Banco Santander, S.A., BNP PARIBAS, Deutsche Bank AG, London
Branch, Goldman Sachs & Co. LLC and HSBC Bank plc, as representatives of the several underwriters named in Schedule II thereto (the
“Underwriters”), pursuant to which the Company agreed to issue and sell to the Underwriters €3,550,000,000 aggregate
principal amount of Senior Notes in a registered public offering (the “Offering”). The Offering was consummated pursuant
to the Company’s Registration Statement. The Underwriting Agreement is filed as Exhibit 1.1, and is incorporated by reference.
The Opinion of Cravath, Swaine & Moore LLP
with respect to the validity of the Senior Notes is filed as Exhibit 5.1, and is incorporated by reference.
This Current Report on Form 8-K and the exhibits
hereto are incorporated by reference into the Registration Statement.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit |
|
Description |
| |
|
|
| 1.1* |
|
Underwriting Agreement, dated November 9, 2026, among Booking Holdings Inc., Banco Santander, S.A.,
BNP PARIBAS, Deutsche Bank AG, London Branch, Goldman Sachs & Co. LLC and HSBC Bank plc, as representatives of the several underwriters
named in Schedule II thereto. |
| 4.1 |
|
Form of 3.950% Senior Note due 2029. |
| 4.2 |
|
Form of 4.375% Senior Note due 2032. |
| 4.3 |
|
Form of 4.750% Senior Note due 2035. |
| 4.4 |
|
Form of 5.000% Senior Note due 2038. |
| 4.5* |
|
Officers’ Certificate, dated November 13, 2026, with respect to the 3.950% Senior Note due
2029 issued pursuant to the Base Indenture. |
| 4.6* |
|
Officers’ Certificate, dated November 13, 2026, with respect to the 4.375% Senior Note due
2032 issued pursuant to the Base Indenture. |
| 4.7* |
|
Officers’ Certificate, dated November 13, 2026, with respect to the 4.750% Senior Note due
2035 issued pursuant to the Base Indenture. |
| 4.8* |
|
Officers’ Certificate, dated November 13, 2026, with respect to the 5.000% Senior Note due
2038 issued pursuant to the Base Indenture. |
| 4.9 |
|
Agency Agreement, dated as of November 13, 2026, by and between Booking Holdings Inc., as issuer,
U.S. Bank Europe DAC, UK Branch, as paying agent, and U.S. Bank Trust Company, National Association, as transfer agent, registrar
and trustee. |
| 5.1 |
|
Opinion of Cravath, Swaine & Moore LLP, relating to the Senior Notes. |
| 23.1 |
|
Consent of Cravath, Swaine & Moore LLP (included as part of Exhibit 5.1 to this Current Report). |
| 104 |
|
Cover Page Interactive Data File - the cover page interactive data file does not appear in the
Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. |
*Schedules or similar attachments have been omitted pursuant to Item
601(a)(5) of Regulation S-K. The Company hereby undertakes to furnish copies of any of the omitted schedules or similar attachments upon
request by the Securities and Exchange Commission.
SIGNATURES
Pursuant to the requirements of the Securities
Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
BOOKING HOLDINGS INC. |
| |
|
| |
|
|
| |
By: |
/s/ Peter J. Millones |
| |
|
Name: |
Peter J. Millones |
| |
|
Title: |
Executive Vice President and General Counsel |
| Date: November 13, 2026 |
|
|
|
